Every draw system seems to have it's advantages. Guys that have max pref pts like the pref pt system because they are on top of the list to draw a tag. Guys with few pts or are just getting into the game have very little chance of catching up in tough to draw pref pt units. That is what happened in Colo's 2, 10, and 201 elk units and people that are just starting out will likely never draw those tags with the present system.
There are so few Wyo sheep and moose tags issued and so many applicants that high pref pt guys filter through the system extremely slowly and there is little to 0 chance of drawing a tag in the regular pool with all applicants. It is a real bummer when young kids will likely never have a chance in their life of drawing those tags.
One of the best features with the pref pt system in Colo is you can pretty much tell which year you will draw what tag. Point banking somewhat screwed this up last year but for the most part you can still plan a particular year you will be hunting Colo elk, deer, or antelope. The pref pt system works very well for hunts where a lot of hunters filter through the system but is horrible where there are few tags and lots of applicants.
Colo's bighorn sheep, goat and moose are a little different and guys won't have a chance to draw one of these tags until they have 3 pts. Once you have 3 pts your name is put in the hat 1 additional time for each year above 3 you don't draw. This system works pretty good in units with few tags and gives guys that have applied more years a better chance of drawing.
UT's and NV's bonus pt system is pretty good because everyone has a chance to draw. The more years you apply the better your chance. With the present system in UT there are so few nonres tags issued for the premier deer, elk, sheep, moose, bison, and mtn goat units that guys just starting out still have a really poor chance of drawing. UT segments applicants into bonus and regular draw pools but in the case of bison, mtn goat, and sheep there are 0 to maybe 1 or 2 tags handed out to guys in the high bonus pt pool.
With that said I really think Wyo's pref pt system works great for deer and antelope but not for elk. Most Wyo deer and antelope units are fairly easy to draw so hunters will filter through the system pretty fast. Obviously there are exceptions like 102 and 128 deer as well as 60 and 61 antelope that may take a lifetime to draw even with max pts!
The Wyo elk draw may be a once in a lifetime deal for a majority of the units because there are so few nonres tags handed out.
One thing that you need to remember is that systems and other things can change! Charging $75/yr to apply for Wyo moose pref pts is an example. In fact, I've heard rumors of Wyo nonres moose tags going up to $2,000 in 2008! It is getting so expensive to apply for nonres tags you may want to think twice about how many tags you apply for! $75 to over $100/year per state or species really adds up over time. One thing to consider may be to go on a self-guided Alaska or guided Canada trip for the price you will likely pay down the road for all the applicantion and bonus/pref pt fees! I know there are several species and state's I have quit applying for in recent years because it just isn't worth it!